Medtech companies prepare for an innovation makeover

The medical technology industry was on the forefront of innovation for decades, but now return on innovation investment is declining. The very notion of medtech innovation needs redefining in a new health economy that is focused on higher expectations for value and convenience. Medtech companies must be ready to compete in the new environment or risk being displaced by companies that can show evidence that their innovations create value. Some of these companies are non-traditional players that are entering healthcare. The medtech industry has always viewed innovation as the critical element of success, and its importance continues to grow. While 64% of executives surveyed by PwC’s Health Research Institute (HRI) view innovation as a competitive necessity today, 81% believe it will be in five years. But the innovation machine is not working like it used to. Download our report to find out why.